Chart Reinitialization Tool
Info
The Chart Reinitialization Tool is a Expert Advisor for MetaTrader 5 that this expert advisor adds a button to the bottom right corner of each chart. After pressing the button, it reinitializes all charts of the chart symbol.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Chart Reinitialization Tool
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
This Expert Advisor adds a button to the bottom right corner of each chart.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Synchronized Charts - another powerful expert for MetaTrader 5 traders.
This Expert Advisor adds a button to the bottom right corner of each chart. After pressing the button, it reinitializes all charts of the chart symbol.Also recommended: Expert Advisor Demonstrating Lib Custom Chart Application - similar expert with strong performance on MetaTrader 5.
The chart reinitialization is implemented by a temporary change of the chart timeframe.
This method is simple and does not have side effects, because it does not redraw (and recalculate) the temporary chart window.
Input parameters:
- SampleText: the text displayed on the button, default is Recalculate
- SampleTextColor: the color of the button text, default is NavajoWhite
- SampleBackColor: the background color of the button, default is SlateGray
You may also like: Active Chart - excellent alternative for expert users on MetaTrader 5.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.